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Professional Traders Vs Amateur TradersThere is a big difference between successful traders and amateur traders. Successful traders know how to allocate capital, calculate their risks, and move on after losing money. Ultimately, it is not what the trader knows, but who he is. The consistently profitable traders can ignore or subvert their natural tendencies to do what feels comfortable, and instead, do what is necessary, to be optimally profitable over the long run. I have mentioned just a handful of differences between professionals and amateurs. A trader’s goal should be to move from the red group (amateur trading) to green group (professional trading) as early as possible. Remember "amateurs focus on anticipating returns, professionals focus on the process and managing risk".
NSE:NIFTYEducation
by PranamGhagare
2
Trading Journey - 5 Step ProcessApproach your trading as a business. I know it sounds a little cliche, but if you approach your trading in this way you will start to build in a level of accountability for not only yourself but also your time. In any business, there needs to be a breakeven point and a point at which the business starts to show a profit for it to continue. By approaching your trading as a business in this manner you will quickly determine what parts of your business need to be improved to achieve your business objectives. The following actions can be undertaken in the following stages for anyone new to trading : 1. Learning Phase - This will probably be a starting point for all the traders out there unless he/she are using signals to trade the markets. This is the point where you should try out different systems, attend webinars/seminars of successful traders and select a system which suits you the best, meaning some prefer to day trade, some prefer swing trading etc. Try to get your hands on books which teach technical analysis and basic risk management techniques. 2. Building Your System - No two trading plans are the same because no two traders are exactly alike. You should select a strategy and make adjustments or certain changes along the way. At this stage, you need to have a selected strategy/system for further testing. But remember, deciding on a system is less important than gaining enough skill to make trades without second-guessing or doubting the decision. Confidence is key, which will be gained in the next step. 3. Paper Trading - Successful paper trading does give the trader confidence in the system they are using if the system is generating positive results. Test your system in the live markets either by paper trading or using the reply tool on the TradingView platform, which enables you to test your strategy on the previous year's data. Try to create a watchlist of stocks that work well on your trading system. 4. Transition to Live Trading - Successful paper trading does not guarantee that you will find success when you begin trading real money. That's when emotions come into play. That is why you need to start with a small amount and gradually increase your account as you gain confidence and start seeing results. Before shifting to live trading, you should have proper risk management, trade management plans to tackle the volatility of the market. Write down details such as targets, the entry and exit of each trade, the time, support and resistance levels, daily opening range, market open and close for the day, and record comments about why you made the trade as well as the lessons learned. Maintaining a simple trading journal is one of the most important things that you can do if you want to be successful in the trading space. You should go back and analyze the profit or loss for a particular system, drawdowns, average time per trade, Risk to Reward and other important factors. Remember, this is a business and you are the accountant. You want your business to be as successful and profitable as possible. 5. Trading Psychology - I probably cannot emphasize in words, how important this part is for your trading success still it is not looked upon and given importance by the majority of traders. It is that minor difference between a highly profitable trader and a good trader. Professional traders know before they enter a trade that the odds are in their favour or they wouldn't be there. By letting their profits ride and cutting losses short, a trader may lose some battles, but they will win the war. Most traders and investors do the opposite, which is why they don't consistently make money. I have addressed some points of successful traders below, so you can get an insight into their trading mentality - 1 - They are all comfortable with taking risks. 2 - They are capable of quickly adjusting to changing market conditions. 3 - They are disciplined in their trading and can view the market objectively. 4 - They don’t give in to being excessively excited about winning trades or excessively despairing about losing trades. 5 - They make the necessary effort and take the necessary steps to be self-disciplined traders who operate with strict money and risk management rules. Trading is a difficult game to master. Very few people become highly successful at it. However, virtually anyone can become a master trader as long as they are willing to make the necessary effort.
NSE:NIFTYEducation
by PranamGhagare
5
Can we Say that Nifty Has Bottomed out ?NSENG:NSE50 Just a Thought: Not for Trading Purpose NIfty has been free-falling all Due to COVID 19 and the same for Gold, Commodities everything. Chart that Nifty has the following in Pre 2008 Level and Post Market Crash in respect to USD/INR. Similar kind of Trend can be Observed as marked inboxes. Levels are marked for reference purpose only Can we say that Market has Bottomed Out? Can we expect consolidation or Or Buying in Market? Feel free to comment, open to discuss in more detail.
NSE:NIFTYEducation
by UnknownUnicorn5445493
1
RBLBANK ANALYSISOK SO I HAVE FAILED 2 TIMES TO ANALYSE THIS STOCK THIS IS 3RD TIME :) IT IS RESPECTING FLAG PATTERN KIND OF I WOULD SAY FOR SHORT SIDE IT MUST CLOSE BELOW 296.20 AS WE KNOW FOR A FRESH DOWNTREND WE NEED TWO LOWER HIGHS AND TWO LOWER LOWS NOW ALL THESE 4 ARE COMPLETED BUT FIFTH POINT AS I SAID 296.20 SHOULD BE MADE WHICH CONFIRMS DOWNTREND THEN TARGETS ARE GIVEN FOR SHORTS AND GO LONG IF CLOSES ABOVE UPPER TRENDLINE TARGET IS GIVEN MOST IMPORTANT THERE IS GAP AT 282.50 WHICH ACTS AS VERY BIG SUPPORT SUPPORT MANY TIMES THERE GOOD LUCK NOTE: FOR EDUCATION ONLY
NSE:RBLBANKEducation
by UnknownUnicorn2321966
10 LESSONS IN TRADING PSYCHOLOGYBecoming a better day trader requires that you not only focus on textbook knowledge but also yourself. This is why it is so important to put some focus on trading psychology. 1. Know Your Strengths – Knowing your strengths is a crucial part of trading. It’s important to focus on what you are good at so that you may focus your attention in that area. 2. Develop Confidence – Developing confidence not only removes some of the stress from trading, but it also allows you to become more competent. 3. Know when you need to take a break – Day trading can be stressful at times. It’s okay to take a break now and then. This gives you time to refresh and come back to the market with a better mental state. 4. Become self-aware – The ultimate goal of all of these lessons in trading psychology is to help you become more self-aware. If you are not self-aware, you cannot make the changes necessary to improve. 5. Learn to change – Oftentimes, changing requires that you leave your comfort zone. That being said, if you want different results, you have to make changes. 6. Control your environment – Both physical and mental cues within your environment can have a profound effect on your trading. Focus on finding the ideal environment for trading. 7. Think in Probabilities - This is by far the most important part of trading psychology that is not taught anywhere. Successful traders think in probabilities before taking every trade, they do not commit to the market fully, they accept the loses if the trade did not go their way and take the next trade without any hesitation. 8. Deal with stress – Trading under stressful conditions is a recipe for disaster. You should find a way to deal with stress so you can avoid trading under less than ideal conditions. 9. Pinpoint your emotions – A big part of the trading process is understanding the emotions that trigger your actions. For example, let’s say you stop out of a move early even though your initial prediction ended up being correct in the long run. What caused this? Did you make this decision out of fear? Did you buy too many shares? Did you lack the self-confidence to follow through with your plan? Figure out the emotion that triggered your behaviour and look for a way to combat this emotion in the future. 10. Develop a routine – Develop a routine and stick to it. The repetitiveness of this routine will create a sense of stability and increase your trading performance.
NSE:NIFTYEducation
by PranamGhagare
7
TOP 10 Trading Plan EssentialsA trading plan is your roadmap for what you are going to do in the markets. It's something that you have to create and is not optional. 1. How Many Trades will You Use to Evaluate Your Performance? - The answer to this question is very simple. Base your evaluation period on the number of trades placed and not by the amount of time passed. Time is irrelevant in the world of trading. 2. Identify Your Key Performance Metrics. - This can be your Risk to Reward Ratio for each trade. 3. What Time of Day Will You Trade? - For day traders, It is highly recommended you limit your trading activity. 4. Define Your Trading Edge. - Similar to the times of day you will trade; keep your trading edge down to one or two setups when starting. The more strategies you hope to master, the more difficult it will become to consistently make money in the market. 5. Identify Stocks to Trade. - Have specific stocks to trade for the day or the week ahead. It can be in terms of news, technical analysis, backtesting results etc. 6. Place Your Stop Loss. - Stop losses are not a negative thing, they are what keep you in trading business over the long run. 7. When to Exit - The exit strategy should be as simple as when the stock crosses below a moving average or a trendline, it depends on your trading style. 8. How Much Money Can I Use per Trade? - Without money management, you will not stand a chance of making it in the business of trading. For me, the amount of money I can use per trade is fixed. All the best trading plans have a limited risk of 1-2% per trade. 9. Trade Management - Trade management is a crucial element that needs to be addressed in your trading plan. You must know your initial risk for each trade as determined by your initial stop loss before you risk any money on the market. You must plan when you will add to your winning positions and how you plan to exit your winning trades. 10. Take Breaks. - Taking breaks is essential in trading, which is not discussed a lot anywhere. Taking a break for days or a week can help you to relax and gain more focus for days to come because trading is a mental game.
NSE:NIFTYEducation
by PranamGhagare
3
Symmetrical Triangle(Bear Direction) NIFTYSymmetrical Triangle (Bear Direction) Now are in the responsive move, this responsive move has much strength for a pullback. Trading 11045 above, is bullish for targets 11208 and 11273 nearby as 38.2% retracement of total fall. If you think for positive: Buy 11060-11080 stop loss 11050 below for the targets intraday R 11155 nearby and next targets 11208 and 11270. Note: I am already long today lower level. I also updated to buy you Nifty with reference of :
NSE:NIFTYEducation
by Trade-Technique
24
How will you decide next move for NIFTY? HighLight tail with Yellow color at value low. -> Tail detect each time when price taken U-turn. Wave counting 5 are completed. Gravitating price is at 11340 as a target. (suppose to close above 11357, then the next target will be 11468 (more than 90% probabilities). We may face Resistance at control price 11340 nearby, for target 11189. 95% chance to win if create a TAIL at value for U-Turn . Bullish Candle: candle closed of previous 3 candles. To see the following Researches, I suggest you take some time important for you. 1) Fib. Retracement is completely bullish from 11211. 2) History is important to predict the future move.
NSE:NIFTYEducation
by Trade-Technique
110
Descending Triangle Pattern Real-Time education.This pattern important role in the breakout to the downside (Some analysts believe that increased volume is not all that important).We always consider the strength or weakness of volume as being the "straw that stirs the drink." Let see what will happen here minutely and something we can conclude. How can we trade descending triangles? Let's check below will reliable or not on real-time. Typically you want to buy after the pattern breaks resistance. It is good practice to set a stop-loss just below the last significant high. Hit LIKE button if you want to learn REAL-TIME PATTERN notification.
NSE:NIFTYEducation
by Trade-Technique
11
Is it right time to buy this stock?The Control Price basically performing as pivot supports and resistance level on this stock. Therefore, the control price target is 1345 above. You have seen in the chart, how a previous supports or resistance always give twist reaction so, safe first safe target 1339. As a trader, start profiting booking from 1339 to 1347. At value low, and excess plotted in the chart between 1293 to 1302.65 are a great range for Investors and Swing trader eye. If you want to real-time ALERT for trade, just hit LIKE button for NOTIFICATION .
NSE:JUBLFOODEducation
by Trade-Technique
16